Commodity Capsule: Oil prices volatile; gold, silver see sharp drop | Watch video

Crude oil highly volatile

Oil prices dipped on Thursday as demand concerns tied to a global economic slowdown grew.

Brent crude futures traverse a narrow range of $75–78/barrel, while US WTI crude hovers under $73/barrel.

Both benchmarks settled over 1% higher on Wednesday, supported by Saudi Arabia's plans for deep output cuts

TRENDING NOW

Azad Engineering files Rs 740 crore IPO papers with Sebi

Finance Ministry notifies October 1 date for implementing amended GST law provisions for e-gaming

Onboard passengers irked as IndiGo flight takes off after 3-hour delay

IND Vs ENG LIVE Score, ICC World CUP 2023 Warm Up Match Updates: India to take on England in their first warm-up match at Barsapara Stadium, Guwahati

Government extends tenure of CBDT Chairman Nitin Gupta by 9 months

Government increases windfall tax on domestic crude to Rs 12,100/t from Rs 10,000/t

Country's economy will increase tenfold by 2047, it will emerge as a big power in the world: Union Minister Piyush Goyal

EPFO extends deadline to upload details by employers for higher pension option by 3-month till Dec 31

SBI, HDFC Bank, Axis Bank: How much processing fee are prominent banks charging for home loans?

Amazon Great Indian Festival dates announced; Prime members to get early access from October 8

TCS ending hybrid work, asks staff to join office starting October 1: Report

Amazon Great Indian Festival: Get Apple iPhone 14 for as low as Rs 23,249

India to host PATA Travel Mart 2023 in New Delhi

Guaranteed Pension System (GPS) vs Old Pension Scheme (OPS): Which pension scheme offers maximum retirement benefits?

IMF Executive Board approves $1.3 billion for Morocco under Resilience and Sustainability Facility Arrangement

Price gains remain capped by rising US fuel stocks and weak Chinese export data.

Gold, and silver witness sharp drop

Gold prices hovered just above their 2-month lows on Thursday.

Gold has kept a tight trading range for nearly three weeks.

Pressure from a resurgence in the dollar and Treasury yields

Markets speculated over the Fed’s stance on more interest rate hikes, as they awaited the Federal Reserve's meeting next week.

Base Metals Weaken, Await Chinese Stimulus Measures

LME copper fell on Thursday as a surprise interest rate hike by the Bank of Canada fuelled fears of hawkish central banks.

Investors and traders cautiously awaited China's rollout of further stimulus measures.

Copper shed over $100 last session as the red metal slipped from a 4-week high to $8,270 per tonne.

LME zinc slipped from 2-week highs.

Catch latest on the RBI policy review and minute-by-minute stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.